Q: Hello, Stantec stock has seen good momentum and jumped from $79 to over $83, since, Friday, last week. Are you aware of any specific developments, or it's part of the relief rally in the infrastructure sector, after passing of Debt Ceiling bill in US. I am aware that Stifel bumped STN price target to $93 from $86, on Monday. Is it worth increasing our present 1.5% weighting in STN ( we are underweight in Industrials ) and if so, what will be a reasonable price level to add ? Or, it's prudent to wait for the stock to settle back to $78-79 level ? Thank You
5i Research Answer:
We see no specific news here other than the items mentioned in the question. We can't comment on personal weightings but it is about a 2% position in our model growth portfolio. We still like it, but would like it more at $78/9.